Banking stocks remained on buyers’ radar on report from the Reserve Bank of India (RBI) that Indian banks’ loans rose 10.4 percent in two weeks to September 30 from a year earlier.
ICICI Bank is currently trading at Rs. 256.30, up by 14.45 points or 5.97% from its previous closing of Rs. 241.85 on the BSE. The scrip opened at Rs. 244.00 and has touched a high and low of Rs. 256.50 and Rs. 244.00 respectively. So far 1433321 shares were traded on the counter.
Axis Bank is currently trading at Rs. 529.70, up by 9.05 points or 1.74% from its previous closing of Rs. 520.65 on the BSE. The scrip opened at Rs. 522.30 and has touched a high and low of Rs. 533.90 and Rs. 521.60 respectively. So far 217699 shares were traded on the counter.
State Bank of India (SBI) is currently trading at Rs. 255.40, up by 3.50 points or 1.39% from its previous closing of Rs. 251.90 on the BSE. The scrip opened at Rs. 254.00 and has touched a high and low of Rs. 256.30 and Rs. 253.45 respectively. So far 570044 shares were traded on the counter.
Outstanding loans rose 2.11 trillion rupees ($31.56 billion) to 75.21 trillion rupees in the two weeks to Sept. 30. Non-food credit rose 2.21 trillion rupees to 74.35 trillion rupees, while food credit fell 105.30 billion rupees to 854.60 billion rupees. Bank deposits rose 3.52 trillion rupees to 101.43 trillion rupees in the two weeks to September 30.
